How To Accelerate Strategic Change - By Bill Hall
Just published another article on Forbes. Summary:
Well-formulated strategy and premium products will put your company on the competitive map, and a successful strategy acceleration — the process of ensuring your employees are capable of implementing new strategies — can help guide your organization's long-term success. However, successfully navigating from strategy development to implementation acceleration is often one of the biggest challenges for today’s executive team. When strategy acceleration fails, the impact on profitability and competitiveness can be profound.
View the full article here.
Happy 2018! The second half of 2017 was completely unmanageably busy. We don't usually like to keep a pace like this but once in a while it happens. Thus, the posts have been very sporadic here and non-existent at BillHall.Me. My apologies about that. But, I had a request the other day to post the top 5 most popular articles I recently wrote. So, here they are in an easy to access location.
The Most Popular Articles Written in 2017
- Using Simulations to Development Millennial Leaders: CLO Magazine 2016
- The Futility of the 80 Hour Work Week: Entrepreneur Magazine 2017
- High-Tech Startups Need to Ditch the 'Engineers Rule' Mentality: Entrepreneur Magazine 2017
- Can You Speak My Language: Huffington Post 2016
- 4 Steps to Build Strategically Critical Leadership-Development Programs: Entrepreneur 2017
These are just a handful. You can find more here: https://www.linkedin.com/in/wphall/detail/recent-activity/posts/ I've slowed my writing a bit which is a bummer. Will pick it back up once I find a consistent home to write for. Will post the results here. Hope these help for now!
Cheers to 2018 and have a great year! Read More...
With the aging boomers and the lack of experience of the current middle managers, companies are scrambling to build the corporate talent bench. A large part of building this bench is effective business acumen. I'm not talking about the generic, theoretical business acumen traditionally taught in colleges. I'm talking about the real sticky stuff. The 'finance meets people meets marketing meets operations, meets IT, meets leadership, meets corporate strategy meets the impact on the bottom line performance' type of business acumen. The real stuff leaders used to learn over the course of many years. The real-deal business acumen.Read More...
You might be saying, "Behavioral economics? I'm outa here!" But hang tight because it's actually pretty interesting. I'm going to pull everything from online sources and I won't get into the math or anything overly deep. It is worth reading because behavioral economics goes right to the core of the reason why relativity based business simulations are superior to static model based simulations. Let's dive it.
Behavioral Economics studies the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions and the consequences for market prices, returns, and resource allocation, although not always that narrowly, but also more generally, of the impact of different kinds of behavior, in different environments of varying experimental values. (source: Wikipedia). I have to say that this is actually a pretty easy to understand and overall nicely laid out description of such a complicated topic.
Business Simulations are tools utilized to reinforce corporate training and development program material. In most cases, these tools are in the form of a game based method where teams are making decisions in order to see an outcome.
There is a substantial criteria that you need to think about when you think about business simulations: Relativity Modeling. This basically means the business simulation should be setup in order for participants to compete with each other. You are probably able to see why behavioral econ and relativity based simulation modeling go hand in hand.
By utilizing a relativity model, you are more in line with the advantages of behavioral economics. The nice thing about behavioral econ is that it takes into account the human emotion part of the economics equation(s). Thus, this is why business simulations is such a great fit for leadership development programs. Leadership, at its core, is a behavior. By implementing a business simulation that takes into account the behavior of the program, you are by default adding a real-real world scenario that can be found in no other place.
So yes, behavioral economics and relativity based business simulations are cut from the same cloth. This might seem somewhat esoteric, but the general gist is that when you're looking for a business simulation for leadership development, it is important to look for a solution where teams are competing against each other and not against the computer. Also, make sure they aren't competing against the computer and then comparing their scores. This is basically the same thing. Relativity based solutions are more real, more engaging, and proven to be more effective.
What Steve Jobs taught me about leadership, genius, and success
This is an article published in Business Insider by Bill Hall:
For 13 years I worked with Apple, and to say it was an incredible experience would be an understatement.
I witnessed a company losing and finding itself, and in the process, it inspired me to pursue an entrepreneurial path.
I was lucky to work at Apple from my time as a college student up until 2003. I was there while still in college during the John Scully years, which progressed to Michael "The Diesel" Spindler and on to Gil Emilio before Steve Jobs's fateful return.
For two years between 1999 and 2001, I had the amazing experience of working with Steve on various projects that included the development of Mac OS 10.0, his worldwide keynote presentations, and strategic partnerships with companies such as Oracle.
Click here to read the entire BusinessInsider.com article.
Note: Image Source: Sean Gallup/Getty Images